State OF NEVADA taxable sales up 7.2 percent in March-2012
State OF NEVADA taxable sales up 7.2 percent in March-2012
The agency reported Tuesday that taxable sales, one indicator of the economy, rose 1.9 percent to $2.7 billion in Clark County. It was the smallest gain since April 2011, when a 0.9 percent decline was registered.
Statewide, taxable sales rose 7.2 percent to $3.9 billion, continuing a rise in monthly percentage gains since July 2010.
Sale of building materials in Clark County in March jumped 30.4 percent, the second consecutive month of a double-digit increase. Car sales rose 17.1 percent, and the furniture business reported a 14.7 percent gain.
But business in bars and restaurants in Southern Nevada inched up only 0.2 percent, and general merchandise stores registered a 4.6 percent drop in taxable sales.
The Department of Taxation said clothing store sales in Clark County rose 6.9 percent when compared to March 2011.
The department said 15 of Nevada’s 17 counties posted higher sales tax figures when compared to the same month last year. Storey County taxable sales fell 21.8 percent, and Nye County dipped 1.3 percent.
Washoe County gained 3 percent, and Carson City was up 3.8 percent.
The department said gross revenue collections for the state from sales and use tax totaled $299.9 million for March, a 4 percent increase over the same month last year.
Collections were $24.4 million, or 4 percent, higher than forecast by the Economic Forum on which the state’s budget is built.
As a continuing sign of the soft housing market, the collections from real property transfer tax dropped 18.7 percent.
The insurance premium tax fell 9.6 percent statewide.
Collections from the liquor tax dropped 4.6 percent, and revenue from the tax on cigarettes was off 0.2 percent.
Statewide, taxable sales rose 7.2 percent to $3.9 billion, continuing a rise in monthly percentage gains since July 2010.
Sale of building materials in Clark County in March jumped 30.4 percent, the second consecutive month of a double-digit increase. Car sales rose 17.1 percent, and the furniture business reported a 14.7 percent gain.
But business in bars and restaurants in Southern Nevada inched up only 0.2 percent, and general merchandise stores registered a 4.6 percent drop in taxable sales.
The Department of Taxation said clothing store sales in Clark County rose 6.9 percent when compared to March 2011.
The department said 15 of Nevada’s 17 counties posted higher sales tax figures when compared to the same month last year. Storey County taxable sales fell 21.8 percent, and Nye County dipped 1.3 percent.
Washoe County gained 3 percent, and Carson City was up 3.8 percent.
The department said gross revenue collections for the state from sales and use tax totaled $299.9 million for March, a 4 percent increase over the same month last year.
Collections were $24.4 million, or 4 percent, higher than forecast by the Economic Forum on which the state’s budget is built.
As a continuing sign of the soft housing market, the collections from real property transfer tax dropped 18.7 percent.
The insurance premium tax fell 9.6 percent statewide.
Collections from the liquor tax dropped 4.6 percent, and revenue from the tax on cigarettes was off 0.2 percent.
